Arkansas Razorback Athletic Director Jeff Long is set to receive a contract extension through June 30, 2017, paying him $900,000 a year, according to a copy of the contract released Friday.
Long will earn a base salary of $500,000, which, along with a $400,000 yearly payment from the Razorback Foundation, adds up to $900,000 annually. That could go even higher if Long achieves a specified number of incentives. If he reaches s a majority of the incentives, he will earn an additional $250,000. He also will take home a one-time bonus payment of $50,000 on Dec. 31, 2012, in recognition of his “outstanding performance,” the contract states.
The contract, dated Oct. 23 and signed by Chancellor G. David Gearhart, has not been finalized.
In the contract, Gearhart says he told Long during the athletic director’s annual evaluation that he is appreciative of Long’s “outstanding leadership … particularly during very challenging times.”
If Long leaves before the contract expires, the buyout would be $1 million through the 2013-2014 school year. It would then drop to $500,000, $250,000 and $100,000 by the last year.
According to the USA Today 2011 survey, a salary of $900,000 would rank Long 10th nationally and 3rd in the SEC among athletic directors.